If you aren’t approaching your 60s anytime soon, retirement might seem like a far-off dream. In reality, the life you see for ...

Commissions do not affect our editors' opinions or evaluations. An annuity—which is a contract with an insurance company that provides income—may be a good option as part of your retirement plan.

Annuity contracts can be complicated, so investors who want to calculate their payouts might consider consulting with a financial advisor to get a thorough understanding of what they’re buying.

You can use an online calculator such as the Annuity Expert's or AARP's fixed annuity calculator. Sponsored Bank Accounts For example, say you are 60 years old and purchase a $1 million annuity ...

If you’d like to get a quote for today’s annuity rates, you can use Go2Income’s annuity calculator. Annuities provide lifetime income, so depending on the number and type you consider in ...